Web Site Outlines Repayment Options For Borrowers

The National Consumer Law Center and the Project on Student Debt have partnered to launch a Web site to help student loan borrowers learn about repayment options.

The Student Loan Borrower Assistance Web site also includes information on avoiding and getting out of default, dealing with collections agencies, and more.

"So many borrowers I talk to can't find critical information to address their problems," said Deanne Loonin, a staff attorney at the National Consumer Law Center, and author of the Web site. "This site describes the rights and obligations of student borrowers in plain language, so that they can understand their options, and stand up for themselves."

Student Loan Borrower Assistance is an independent resource that provides advice and objective information for borrowers, their families, and legal advocates. The site features straightforward information about everything from choosing a student loan to getting out of default and dealing with aggressive collection agencies. It also includes policy briefs, legal case studies, sample documents and promissory notes, and other valuable resources.

"This is a major breakthrough for hundreds of thousands of borrowers who struggle with their loans," said Robert Shireman, Executive Director of the Project on Student Debt, which funded the development of the site. "Before, they often had nowhere to turn for help, but we're beginning to change that - this is the first step."

The National Consumer Law Center (NCLC) is the nation's consumer law expert, helping consumers, their advocates, and public policy makers use powerful and complex consumer laws on behalf of low-income and vulnerable Americans seeking economic justice.

The Project on Student Debt is managed by The Institute for College Access & Success, a nonprofit, nonpartisan organization dedicated to expanding educational opportunity.

Posted 11/28/07 to www.NASFAA.org. Please submit Web Site questions or comments to Web@NASFAA.org